Questions on optional retirement

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Q. I’m a 59-year-old FERS employee with 27½ years of service. If I go on optional retirement at age 60, will I suffer a penalty, and will I receive the special retirement supplement till age 62, when Social Security kicks in?

A. No, you won’t suffer a penalty because you’ll be retiring at age 60 with at least 20 years of service. And, yes, you’ll receive the special retirement supplement until you reach age 62.

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Reg Jones was head of retirement and insurance policy at the Office of Personnel Management. Email your retirement-related questions to fedexperts@federaltimes.com.

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